UNIT 5 The people who change the world: Social entrepreneurship What is a social entrepreneur? Who are the people who make the solutions that make the world a better place? Entrepreneurs are known as business people who see the need for a something, and they make and sell that product or service for a profit. A social entrepreneur is someone who sees the challenges in the world (financial, social or environmental problems) and they solve these challenges through what they make or do. It’s important to remember that social entrepreneurs are still very much real entrepreneurs. They need to cover costs and make a profit, BUT: they do care about more than just money (profit is known as the bottom line). They measure their success based on the so-called triple bottom line: PEOPLE – how the business affects people and society PLANET – how the business affects the environment PROFIT – how the business makes money, and how much Social enterprises have goals to make the world a better place (social goals) as well as business goals (financial), but their main objective is to bring about social change. They use the normal entrepreneurial principles and processes to create and manage a business, while bringing about the desired change. The first step in starting a social enterprise is to understand a social or environmental problem that you want to solve.
Think about it! Does being a social entrepreneur mean that you do not want to make a profit? What do you think: SHOULD social entrepreneurs make a profit? How do social enterprises differ from NGOs (do they)?
Teaching Resource | Case Studies
Meet 6 young social entrepreneurs who are helping to drive change, https://smesouthafrica. co.za/16609/Meet-6-of-SAs-young-pioneers-who-are-driving-social-change/ 4 Surprisingly Simple Social Enterprises, https://www.thesedge.org/socent-spotlights/4surprisingly-simple-social-enterprises Read the case studies that your parent or teacher will share with you.
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Entrepreneurship Global Competition Guide
